Check out the 8-slide pitch deck German health tech startup Patient21 used to raise $108 million in a mix of equity and debt
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- Berlin-based Patient21 has secured $108 million in Series C funding from Pitango.
- The startup offers both in-person clinical services and software for healthcare providers.
- We got an exclusive look at the 8-slide deck it used to raise the fresh funds.
A startup that combines brick-and-mortar clinical services with software for healthcare providers just raised $108 million in fresh funds despite a drop off in global healthtech funding.
Berlin-based Patient21, launched in 2019, has developed a platform that tracks a patient’s journey from the online booking of an appointment to their check-up, diagnosis, and treatment schedule. It also enables patients to monitor their own clinical data and take a more hands-on approach in their healthcare consultations.
In addition to this, Patient21 has a roster of physical clinics, which allows the company to have “end-to-end control” of the patient journey — which cannot be achieved with a sole focus on a digital health product, according to cofounder and CEO Chris Muhr.
The startup claims to handle over 300,000 patient visits annually. “With an initial focus on dentistry, Patient21’s solution is to move the entire patient journey onto one consolidated digital platform that powers a fast scaling network of its own clinics,” Muhr added.
The COVID-19 pandemic, along with existing hospital backlogs, placed an added burden on healthcare providers. As the sector grapples with staff shortages and a surge in chronic illnesses, Patient21 wants to streamline the way that patient data is handled — and cut back on time spent on admin.
“To this end, we’ve developed a suite of clinic-facing software that accommodates the needs of our healthcare professionals and local clinics,” said Muhr. “It frees our clinical teams up from tedious administrative tasks so that they can focus on what they are best at — taking care of patients.”
While the average dental clinic in Germany operates four to six different software solutions to manage a whole patient journey, Patient21 aims to stand out by consolidating these services into one. Recently, it has also started to work on an AI-driven diagnostic support tool, in a bid to further stand out from competitors.
It currently has 53 outpatient clinics across Germany, of which 43 are dental clinics. The startup makes its money through in-person services at these clinics and sees potential in the long term to form partnerships and run clinics as a franchise model.
The Series C round – made up of over 70% equity funding – was led by Israeli investor Pitango, which has previously backed Frontegg, Formlabs, and the now-public advertising company Taboola. Additional participation came from Target Global, a backer of Revolut and DeliveryHero, along with Bertelsmann Investments, Artian, Piton Capital, and PICO Venture Partners.
With the fresh funds, Patient21 will hone the development of its software platform, and expand from Germany into newer European markets.
Check out the 8-slide deck used to secure the fresh funds.